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Before China can remove implicit guarantees from financial system it must take these steps, says IMF
 

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David Lipton, first deputy managing director of the International Monetary Fund, told a financial forum in Hong Kong on Monday that China should do more to promote the globalisation it says it wants. Photo: Jonathan Wong
A report by two economists from the International Monetary Fund touched on the controversial issue of transparency with regards to China’s accounting and reporting of its debt situation. Photo: AP
The People’s Bank of China has made clear it does not agree with the full IMF assessment, particularly the stress test results. Photo: Bloomberg

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